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Fernando Rivera & Michael Galvan Facilitate $2.5M Chicago Multifamily Sale

Property Image
SOLD
$2,500,000
Michael Galvan
Fernando Rivera

Illinois

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MultiFamily
Sold 04/23/2024
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Property Image
SOLD

Fernando Rivera & Michael Galvan Facilitate $2.5M Chicago Multifamily Sale

616 South Racine Avenue

See Similar Deals
MultiFamily
Sold 04/23/2024
Michael Galvan
Fernando Rivera
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

In Chicago, a multifamily property located at 616 South Racine Avenue was sold for $2,500,000. The property consists of 5 units, with each unit priced at $500,000.

Summary of transaction details:

Fernando Rivera of Extreme Realty represented the buyer, while Michael Galvan of Baird & Warner represented the seller in this transaction.

Players

Michael Galvan
Baird & Warner
Michael Galvan
2 deals$3.6M volume(773) 732-8843
BROKER
Fernando Rivera
Extreme Realty
Fernando Rivera
1 deal$2.5M volume(708) 821-5304
BROKER

Details

SOLD
IMAGE: Fernando Rivera & Michael Galvan DATE: 04/23/2024 ADDRESS: 616 South Racine Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Fernando Rivera - Extreme Realty (@Extreme RealtyHomes) SELLER'S REP: Michael Galvan (@MGalvanrealestate) - Baird & Warner (@BairdWarner) SALE PRICE: $2,500,000 UNITS: 5 ~ PPU: $500,000 NOTE: In Chicago, a multifamily property located at 616 South Racine Avenue was sold for $2,500,000, with each unit priced at $500,000. Fernando Rivera of Extreme Realty represented the buyer, while Michael Galvan of Baird & Warner represented the seller in the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31